Zimbabwe: Govt Allocates $1,9 Trillion for Agric Production

Source from:  The Herald (Harare) 3 December 2007 12/04/2007

GOVERNMENT has allocated $1,9 trillion for agricultural production to ensure food self-sufficiency and increase industrial production for the country. Presenting the 2008 National Budget in Harare last week, Finance Minister Dr Samuel Mumbengegwi revealed that of this amount, $1,2 trillion was for grain production under the Agribank scheme whilst $80 billion was for tobacco production under the Agribank/Tobacco Industry Marketing Board scheme. He added that by the end of October $1,4 trillion of the money had been spent. During the period under review, the minister said Government had availed resources amounting to $98,6 billion for the purchase of fertilizer, chemicals and seeds. The funds were channelled through Agri-bank and Operation Maguta. He further announced that local maize purchases amounting to 164 777 tonnes were secured to ensure that food security up to the next harvest is achieved. Dr Mumbengegwi said a vibrant agriculture sector was essential for the revival of the economy. The Reserve Bank of Zimbabwe has also supported this effort through the mechanisation programme and provision of incentives in order to encourage agricultural production. By October this year, over 2 500 tractors and other farm machinery were allocated to farmers under this programme. Over 70 000 ox-drawn implements have also been availed to communal farmers. In another development, the minister said Government has disbursed resources amounting to $958,6 billion in support of wheat production. Of this amount, $500 billion was for wheat purchases, with more than 70 000 tonnes having been delivered to the Grain Marketing Board. GMB recently received 67 000 tonnes of maize from Malawi. Government plans to put 3,5 million hectares under maize, small grains, cotton and oil seeds during the 2007/8 farming season. This year's farming season has been declared "The Mother of all Farming Seasons". Enditem